The management of energy industries has become subject to new insecurities and uncertainties: imbalance between energy supply and demand due to insufficient investment; regulation uncertainties, particularly with
regard to grid access and greenhouse gas policy after Kyoto; strategic supply insecurity; market entry of renewables and distributed power generation; integration of power and gas; nuclear resurrection; new and
efficient energy technologies and emerging markets for power; new challenges to corporate governance; and geopolitical rifts and risks. From the standpoint of engineering knowledge, economic theory and legal practice, basic concepts and solutions towards addressing these issues exist. But do they work properly under the new circumstances? Should they be adapted to the new developments in energy markets? Or should they be applied in a different manner? Are basically new concepts required?